News

Surprise — Gap had a happy holiday
Gap Inc. turned in a positive holiday performance, reversing a string of declines, fueled by strong results from its Old Navy division and improvements by its namesake unit. The apparel giant also boosted its guidance for the year. Gap’s net sales for the November and December holiday season edged up 1% compared to the year-ago period. Total same-store sales rose 2%.
Amazon opening more bookstores
New Yorkers will have a new way to browse Amazon’s best-selling book titles — in a physical store. Later this year, the retail giant will open a bookstore at the Time Warner Center in Manhattan. Also on the slate for 2017 is a location in Chicago, and the Boston suburb of Dedham, Mass. Stores are also planned for Lynnfield, Mass., and Paramus, N.J.

Build-A-Bear CEO Goes ‘Undercover’

Going undercover isn’t easy. But it can definitely be worth the effort. Just ask Sharon Price John, president and CEO of Build-A-Bear Workshop.
Sam’s Club CEO stepping down

The ranks of female retail CEOs is losing one of its highest-profile members. Rosalind G. Brewer, 54, has told Walmart she plans to retire as executive VP, president and CEO of Sam’s Club, effective Feb. 1, 2017. She will be succeeded by company veteran John Furner, 42, who joined Walmart as an hourly associate in 1993, effective Feb. 1. The news was announced in a filing by the chain.
Report: Walmart Canada settles dispute with Visa

A six-month battle between Walmart Canada and Visa has come to an end. The retailer, which threatened to ban the card processor from all of its stores nationwide due to “unacceptably high” credit-card transaction fees, has ended its feud, and will resume accepting Visa cards at its more than 400 stores starting Friday, Jan. 6.
A less-than-merry holiday for department store retailers — including Penney

Poor holiday sales results from Macy’s, Sears, and Kohl’s do not bode well for the already embattled department store sector. And now J.C. Penney has reported its own disappointing results.
The newest shopping channel: automobiles?

The annual consumer electronics trade show (CES) is considered a launch pad for new innovations and technology. One concept garnering attention at this year’s show: in-vehicle digital shopping. Honda and Visa presented the first proof-of-concept demonstration of in-vehicle payments at this year’s show, held in Las Vegas, Jan. 5-8.
Neiman Marcus scraps IPO

Neiman Marcus Group is not going public anytime soon. In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.
Former Walmart executive joins Dollar Tree management team

Dollar Tree has appointed Duncan Mac Naughton as president and COO of its Family Dollar subsidiary. Mac Naughton, 54, most recently served as CEO of Mills Fleet Farm. He has held numerous leadership roles at Wal-Mart Stores, including chief merchandising and marketing officer of Wal-Mart U.S. from 2011 to 2014, executive VP of consumables health and wellness and Walmart.com from 2010 to 2011, and chief merchandising officer of Wal-Mart Canada from 2009 to 2010.
New center set to rise in Richmond

A site near the entrance to Innsbrook Office Park in Glen Allen, Virginia, north of Richmond, has been slated as the home of Dominion Shoppes at Innsbrook, a project of Dominion GA, LLC. In a deal brokered by Cushman & Wakefield/Thalhimer, Dominion acquired the 2.4-acre tract from Doswell Properties for $2.9 million. The planned center is 100% pre-leased to tenants including Starbucks, Blaze Pizza, American Family Care, and Noodles & Company.